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With the meme coin market continuing to attract attention, a prominent analyst has commented on Dogecoin’s potential, anticipating a move toward $0.3 in April.
Currently, Dogecoin is up 98% this month, trading at $0.18.
Dogecoin primed for next leg up, says analyst
Prominent market commentator Kaleo anticipates that Dogecoin’s next leg up could be imminent.
The trader gained massive notoriety in 2022 when he famously predicted the Bitcoin bear market bottom, adding to the validity of his recent prediction.
“DOGE easily has another leg up left in it here. Send it higher,” he wrote in a recent tweet.
The analyst accompanied the comment with a depiction of Dogecoin’s price chart, illustrating it recently broke and retested its November 2023 resistance, setting a bullish precedent for the coming month.
Kaleo illustrated a potential upcoming trajectory, speculating it could reach highs of $0.3 in April. Based on its current price of $0.18, this equates to a 66% uptick.
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Yet, taking a longer-term outlook, Kaleo anticipates even more spectacular gains for the market’s leading meme coin.
In a tweet earlier this month, he suggested, “Doge to $1 isn’t going to be just a meme this cycle.”
This would present a resounding 455% increase from its current price if accurate.
Yet, Kaleo is far from the only analyst offering bullish Dogecoin price predictions.
Renowned trader Bluntz also anticipates significant gains in April, predicting a move toward $0.26 within the first half of the month.
In the initial tweet, Bluntz speculated a retracement toward $0.147 but followed up by saying, “I’m starting to think it might not give a deeper pullback. It’s definitely displaying strength, there’s no doubt about that.”
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Cryptoknight890 also forecasts explosive gains, speculating DOGE could advance toward $0.45 soon.
The analyst cites its November 2023 resistance breakout as a key reason why.
Evidently, Dogecoin’s market sentiment is considerably bullish. However, other cryptos are also poised with a similar outlook. The new ICO Dogecoin20 exploded past $10 million in its presale in just over one week, illustrating immense support from investors.
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Dogecoin20 raises $10M – next big meme coin?
Enter a new paradigm of meme coin innovation with Dogecoin20, the latest twist in the explosive meme coin saga.
Encapsulating the vibrant essence of Dogecoin, this new rendition presents a slew of enthralling initiatives.
Its flagship Stake-to-Earn mechanism provides a unique opportunity for market participants to compound their meme coin investment while bolstering the network’s stability and security.
Currently, stakers can garner a 98% APY, but this will decrease as more tokens are staked.
In another distinct advantage over the OG meme coin, Dogecoin20 boasts a capped supply, following in the footsteps of “sound money” pioneer Bitcoin.
The finite supply opposes Dogecoin’s unlimited supply, helping Dogecoin20 stave off inflation and price dilution.
Meanwhile, retaining the philanthropic allure of its predecessor, Dogecoin20 embraces the “Do Only Good Every Day” ethos, striving to “channel its influence to support charitable initiatives, community projects, and noble causes.”
This multi-faceted approach to innovation has caused a ruckus in the market, enabling Dogecoin20’s presale to be one of the most of 2024.
Adding to the excitement, analysts are massively bullish, with Jacob Bury recently suggesting it could 100x after its IEO.
However, with just 24 days left until it launches on exchanges, it is time to buy DOGE20 at a fixed, discounted rate.
Read more: Dogecoin price analysis: A critical look at investment viability
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